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Deed Of Assignment Of Tenancy

Deed Of Assignment Of Tenancy Template for Nigeria

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Key Requirements PROMPT example:

Deed Of Assignment Of Tenancy

"I need a Deed of Assignment of Tenancy for transferring my commercial office lease in Lagos, Nigeria to another company, with the assignment to take effect from March 1, 2025; the original lease has 3 years remaining and landlord's consent has already been obtained."

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Document background
The Deed of Assignment of Tenancy is a crucial legal instrument in Nigerian property law used when an existing tenant wishes to transfer their leasehold interest to another party. This document is essential when a tenant needs to exit a lease early but wants to transfer their rights to another party rather than terminate the lease. It's commonly used in both commercial and residential contexts, requiring careful consideration of federal laws like the Land Use Act and state-specific tenancy laws. The deed must be properly executed, stamped, and registered according to Nigerian legal requirements to be valid and enforceable. It should clearly outline the rights and obligations being transferred, any conditions of the assignment, and include the landlord's explicit consent to avoid future disputes. This document type is particularly important in Nigeria's dynamic property market, where tenancy assignments are common in both urban and commercial settings.
Suggested Sections

1. Parties: Identification of the Assignor (current tenant), Assignee (new tenant), and Landlord

2. Background: Recitals explaining the existing tenancy and the intention to assign

3. Definitions: Definitions of key terms used throughout the deed

4. Details of Original Lease: Specifics of the existing lease being assigned, including date, parties, and key terms

5. Property Description: Detailed description of the leased property subject to assignment

6. Assignment: The operative words of assignment transferring the tenant's interest

7. Consideration: Details of the payment or other consideration for the assignment

8. Assignor's Covenants: Warranties and promises by the current tenant regarding the lease status

9. Assignee's Covenants: New tenant's promises to comply with lease terms and obligations

10. Landlord's Consent: Confirmation of the landlord's agreement to the assignment

11. Completion Date: The date when the assignment takes effect

12. Execution: Formal execution blocks for all parties

Optional Sections

1. Security Deposit Transfer: Terms for transferring the existing security deposit, if applicable

2. Outstanding Rent: Provisions dealing with any rent arrears or prepaid rent

3. Maintenance Obligations: Specific provisions about ongoing maintenance responsibilities if different from original lease

4. Break Clause: Optional terms allowing early termination of the assignment

5. Insurance: Special insurance requirements beyond the original lease terms

6. Service Charge Provisions: Specific arrangements regarding service charge payments and adjustments

7. Improvements and Fixtures: Provisions dealing with tenant improvements or fixtures if relevant

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including plans and boundaries

2. Schedule 2 - Original Lease: Copy or details of the original lease agreement

3. Schedule 3 - Inventory: List of fixtures, fittings, and contents included in the assignment

4. Schedule 4 - Condition Report: Current condition of the property at time of assignment

5. Schedule 5 - Outstanding Obligations: List of any ongoing obligations or outstanding matters

6. Appendix A - Landlord's Consent Letter: Formal written consent from the landlord

7. Appendix B - Property Documents: Relevant certificates, permits, or property-related documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























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Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail

Office Space

Industrial

Hospitality

Education

Healthcare

Manufacturing

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Administration

Compliance

Property Management

Asset Management

Risk Management

Relevant Roles

Property Manager

Real Estate Attorney

Facilities Manager

Legal Counsel

Real Estate Agent

Leasing Manager

Property Administrator

Corporate Real Estate Manager

Asset Manager

Tenant Relations Manager

Compliance Officer

Real Estate Operations Manager

Property Portfolio Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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